Recommended Bookkeeping software for very small woodoworking biz

[Dave Cohen]

Bookkeeping software for very small woodworking business?

Shareware/Freeware or something to buy that does the job well, any recommendations ?

[Jim Heffner]

Quickbooks...'nuff said there!

[Doug Mason]

Unless you know a "debit" from a "credit", I don't think any accounting software will help you. It'll sit on the shelf; kinda like the guy who buy's a handplane but never learns how to sharpen it-- it'll just sit on the shelf.

[Steve Rozmiarek]

Quickbooks...'nuff said there!

I agree. Works well, and you can use as many features as you want. Invoice, bill, track inventory, all the different account balances, good reports, etc,. Or, if you don't want to get that in depth, just balance the checking account. It's been almost 10 years since I learned it the first time, and I'm still learning, but it has produced decent bookeeping ever since. Don't fall prey to upgrades. You don't need the new version every year and you probably don't need payroll. If you take credit cards, it will do that, for a small fee. One more big plus, every accountant I have ever dealt with, is familier with Quickbooks.

If you just want to track costs of projects, inventory, and billing, I've been impressed with Cutlist. Good program for the money. Not really any accounting functionality though.

[Steve Rozmiarek]

Unless you know a "debit" from a "credit", I don't think any accounting software will help you. It'll sit on the shelf; kinda like the guy who buy's a handplane but never learns how to sharpen it-- it'll just sit on the shelf.

Nah, I still get those mixed up from time to time, and I should know better! The hard part is taking the time nessecary to do the books.

[Peter Gregory]

The question is - which software will be the cheapest to use? The answer is likely to be whichever software your CPA/accountant/bookkeeper uses. My CPA has everyone use Quickbooks, then imports your files into her system. They have a high level of expertise in QB, so they can help you when you mess up. I'm not sure you will be doing enough transactions to worry about this at the beginning, but these are the question I think you should consider.

That being said, there is a reason the rest of us are using Quickbooks for a reason. It is a really good product. I like the printable checks too, worth the money to get some IMHO.

Good luck, running a business is the most fun you can have, while terrified. :)

[Peter Gregory]

The hard part is taking the time nessecary to do the books.

Accounting isn't that hard. My problem is that I hate, hate, hate to do it. My solution is a 4 to 8 hour per week bookkeeper and a CPA behind that. My business has many more transactions than a woodworking business is likely to have, so maybe that complexity isn't needed in a smaller business. I certainly didn't do it, before we got bigger.

I figure that for every one hour of accounting tasks I do, I procrastinate for 4 hours first. That is a very expensive hour, when it costs 5. Notice, no :) here.

Good luck, but keep that bookkeeping away from me. I have graduated, after many years of suffering.

[Paul Ryan]

Dave,

I am self employed, not as a woodworker though this is just a hobby. I don't have any inventory to worry about, but if you are just looking to do simple things. Just use a simple spread sheet. You can account for time spent in one colum, $ brought in, and expenses for a project. It wont be anything fancy. I do inspections on cars, trucks, motor homes, 4 wheelers, snomobiles, boat, motorcylces, and just about anything else with a motor. The excell works great for me, I account for miles driven, $ spend on fuel, and profit. There are someother things in it too, but I think you get the picture. It is easy to set up and will keep tract of just about anything you want it too. Good Luck

[Rick Fisher]

This is something you should discuss with your accountant. You may not need anything at this point, may need Quick books.

There are benifits to keeping things simple.

[Jim Becker]

Quickbooks, for sure. You can certainly do it on paper, but I find even personal expense management to be much simpler over time when done electronically--and your accountant will likely appreciate that instead of the "shoe box". :) You can search and find things and it's so easy to categorize things in a meaningful way. The cost of the software is usually tax deductible, too. Talk to your accountant about your options.

[Rob Cooper]

I have used Quickbooks for 8 + years. It is good software and accountants will expect it or charge more for tax prep.

Check Staples stores on Monday. Intuit is rumored to run a small business promotion for just that day only at Staples. See below. I did not verify this, but it comes from a programmer friend who fishes those forums.

Hi Everyone,

To help customers grow and run their small businesses Intuit will offer QuickBooks Pro for FREE at Staples stores on Monday, Dec. 22. This promotion will help small businesses through tough economic times, and supports our goal of bringing customers, customers, customers into the small business ecosystem.

The regular price at Staples is $199.99. Customers will receive $40 in instant savings and, with a $159.99 mail-in rebate, they get QuickBooks Pro for FREE!

[Rich Enders]

MYOB (Mind Your Own Business) is the software our accounting firm recommended 10+ years ago. At the time it was the only easy to use program that had an integrated inventory. The value of an integrated inventory is that you cannot sell (invoice) an item until you have purchased it, or built it ("these six boards in inventory become this blanket chest). This keeps you from getting behind on your "paperwork".

It is intuitive, inexpensive, and supported by a staff of answerpersons. It automatically keeps track of costs in general, and by project which will help the accuracy of your future quotes. The reports are very professional looking (suitable for bankers), and customizable. It maintains complete records by supplier, or customer, and will even dial their number for you.

It comes with a brief accounting tutorial (for us dummies), and is now a mainstay of our business.

[Kelly C. Hanna]

Quickbooks...'nuff said there!
I have been curious about trying this one out...sure would lighten my load at tax time I'd bet.

[Steve Rozmiarek]

Accounting isn't that hard. My problem is that I hate, hate, hate to do it. My solution is a 4 to 8 hour per week bookkeeper and a CPA behind that. My business has many more transactions than a woodworking business is likely to have, so maybe that complexity isn't needed in a smaller business. I certainly didn't do it, before we got bigger.

I figure that for every one hour of accounting tasks I do, I procrastinate for 4 hours first. That is a very expensive hour, when it costs 5. Notice, no :) here.

Good luck, but keep that bookkeeping away from me. I have graduated, after many years of suffering.


Peter, sounds like a lot of similarities between your accounting approach and mine. Procrastination ratios included. I had a CPA once that had a sign on her wall that said, "The best way to get something done, is to start". Exactly, but that first step is a bear at times.

[William OConnell]

I use quickbooks Pro and have for the last 10 or so years.
Many have hit on the tax and accounting aspects of it,but, what I really like is the estimating and invoicing via email feature.
It comes through on the other end looking very professional with a cover letter. I actually just sent an invoice 10 seconds before I came here today.
It also offers and item description where you can keep the items you use often ie: hourly rate, materials, etc so it becomes a one click insert.
All vendors and what you spent with them and customers are also stored offering different report views

[John Keeton]

Unless you know a "debit" from a "credit", I don't think any accounting software will help you. It'll sit on the shelf; kinda like the guy who buy's a handplane but never learns how to sharpen it-- it'll just sit on the shelf.
Well said, but there does need to be a distinction drawn here. Dave, you don't say whether you are a proprietorship or incorporated/llc, or whether you have employees or need to invoice. You do say "very small."

I have used Quicken and Quickbooks both for well over a decade - probably since their inception.

Quickbooks is for double entry bookkeeping - debits and credits. You need that for producing the balance sheet necessary for a corporate return, and for other equity purposes. Banks like it if you are conducting financial dealings as a corporate entity.

It also will support invoicing, accounts receivable, inventory, payroll, accounts payable, etc. Pretty complete program, and as good as everyone has said.

However, I have used Quicken at home for rental properties, and personal record keeping. It is single entry, and will produce a variety of reports for tax purposes. If you don't need to track accounts receivable, or accounts payable, or have employees - it is much simpler.

[Steve Clardy]

Yes on the quickbooks. Mine is 2005.

Often times you can find older versions [still new] for sale pretty cheap on Amazon.

[Larry Edgerton]

Quickbooks Pro.......